A proposed class-action lawsuit has been filed in opposition to OneCoin in New York.
The opening introduction of the criticism quotes Manhattan U.S. Legal professional Geoffrey S. Berman, and just about says all of it;
[They] created a multi-billion-dollar “cryptocurrency” firm primarily based fully on lies and deceit.
They promised large returns and minimal threat, however … this enterprise was a pyramid scheme primarily based on smoke and mirrors greater than zeroes and ones.
Traders had been victimized whereas the defendants obtained wealthy.
OneCoin investor Christine Grablis is known as as plaintiff within the case.
Named defendants are OneCoin, Ruja Ignatova, Konstantin Ignatov, Sebastian Greenwood and Mark Scott.
Grablis’ criticism depends closely on the DOJ’s varied instances in opposition to OneCoin insiders, specifically Ignatova, Ignatov and Scott.
Sebastian Greenwood is believed to be underneath US custody however has been in an data blackout since extradition from Thailand.
The lawsuit additionally options OneCoin’s personal advertising materials and backoffice screenshots.
Representing Grablis is the regulation agency Silver Miller, who’re additionally behind the nonetheless enjoying out BitConnect class-action.
Grablis claims to have invested roughly $130,000 into OneCoin between August 2015 and 2016.
She was a part of OneCoin’s group of unofficial US traders, which the lawsuit claims was headed up by
- Tom McMurrain
- Denis Murdock
- Sal Leto
- Bob Byrum
- Carl Wilt
- Greg Knox
- Margie Scott
- Maurice Katz
- Steve Gotberg
- Kevin Foster
- Sarah McGee
- Glenn Smith
- Ken Labine – Canada – recruits in USA
- Sheri Hilliard-Pearce
- Jason Richard Mangan
- Charlotte Mangan
- Joseph W. Piper
- Jodi Tressler Greene
- Keith Bliss
- Stan Harris
- Mike DiGaetano
- Michael & Latasha DeArmond
- Jeff Shofner
- John Reilly
- Ray Lopez
- Willie Tubbs
- Mary Spicer
- Kaytee Godiva
- Brent Patrick
- Beverly Washington
- Sandy Davis
- Tory Bailey
- Mark Halbig
- Erik Enriquez
- Jack Palis
- Patricia Ann
- Jeff Litzenberger
- Barbara Lloyd
- Lucille Bolton Shannon
- Alan C. Delaney
- Andy McCormack
- Joseph A Mitchell
- Rick Harris
- Katherine Clement
- Erick Brent
- Ellis Vernon
- Dean Hackney
- Tom Cao
- Robert Townsend
- Crystal Marie Spath
- Belinda Aquino
- Susan Bayerle
- Jennifer Vloggity-Korol
- Wayne Bailey
- Shanna McCarty
- Robin ‘Robertson’ Keith
- Steve Stucke
- John Reilly and
- Richard Marks
GRABLIS herself met on a number of events with Sal Leto, Bob Byrum, Carl Wilt, Greg Knox, and Margie Scott, who every acted as representatives of ONECOIN LTD. in brokering the acquisition/sale to Plaintiff GRABLIS of the OneCoin dealer packages/memberships during which she invested.
Notice that whereas the above names are cited as main recruiters for OneCoin within the US, they aren’t named defendants.
Citing a number of violations of the Securities Act and extra breach of contract, unjust enrichment, fraudulent inducement, fraudulent misrepresentation, negligent misrepresentation, conversion and civil conspiracy counts, Grablis seeks the institution of a constructive belief, damages, accounting of funds remaining and cessation of OneCoin’s fraudulent enterprise alternative.
If authorized, the lawsuit will proceed as a class-action, represented by Grablis and Silver Miller.
Potential roadblocks to the case embrace a lawsuit filed by the SEC, which might doubtless embrace the appointment of a Receiver.
If that occurs, it’s virtually assured any competing civil lawsuits will probably be stayed.
Given we haven’t seen something from the SEC concerning BitConnect although, whether or not they get entangled in OneCoin is unsure.
One differentiating issue between BitConnect and OneCoin is the arrest of a number of OneCoin executives.
Keep tuned for updates on the case.
Replace twelfth October 2020 – Simply shy of a 12 months and half later, we’ve revisited the OneCoin class-action for a standing replace.
Replace ninth October 2021 – On October eighth Plaintiffs Donald Berdeaux and Christine Grablis filed for voluntary dismissal.